This week, Australian anti-gambling advocates unveiled a report that makes startling reading for anyone with a pension: the 20 largest superannuation funds in the country hold a combined US $10.3 billion in gambling stocks.
According to the report, the largest fund holder of gambling stocks is AustralianSuper, with investments totaling $2.6 billion. Other major funds like Aware Super, UniSuper, and QSuper also have significant stakes in gambling companies. The revelations have sparked concerns about the ethical implications of pension funds investing in industries linked to problem gambling.
Despite the significant financial interests involved, the report highlights that the full extent of pension fund investments in gambling may be even greater than initially disclosed, indicating a deeper connection between Australian pension funds and the gambling sector.
